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Evoke PLC (LSE:EVOK) has confirmed it is in talks about being taken over by Greek-US lottery and gambling outfit Bally's Intralot. The bookmaker said a proposed offer valuing the group at 50p per share is being discussed, via an all-share combination, alongside a partial cash alternative. It cautioned there can be no certainty that a firm offer will be made, nor on the final terms. Evoke’s board is reviewing the proposal with advisers Morgan Stanley and Rothschild & Co, and urged shareholders not to take any action at this stage. Bally’s Intralot is a gaming and lottery technology group formed through a partnership between US-based Bally's Corporation and Greece's Intralot SA, focused primarily on regulated lottery and betting markets, particularly in the US. Under UK takeover rules, Bally’s Intralot has until 18 May 2026 to either announce a firm intention to make an offer or walk away, unless the deadline is extended. Any formal bid would be subject to customary conditions and approvals, with Bally’s Intralot retaining flexibility over price, structure and the mix of consideration. The announcement marks the first confirmation of talks following recent media speculation around a potential combination between the two businesses. The approach follows a strategic review launched in December, when the group put itself up for sale after higher gambling taxes were announced in the UK Budget. In January, Evoke struck a more upbeat tone, reporting its strongest quarter of the year with revenue of about £464 million, up 7% on the previous quarter.
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